JetBlue Airways Corporation $JBLU Stock Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP cut its JetBlue stake by 91.2% in the second quarter, selling 525,299 shares and retaining 50,834 shares worth approximately $291,000. Institutional investors overall own 83.71% of JBLU.
• Analyst sentiment remains weak: seven analysts rate JetBlue a hold and six rate it a sell, resulting in a consensus “Reduce” rating and an average price target of $5.28.
• JetBlue reported a quarterly loss of $0.66 per share, slightly better than estimates, while revenue rose 14.5% year over year to $2.70 billion. The stock opened at $4.15 and carries substantial leverage, with a debt-to-equity ratio of 5.04.

Corient Private Wealth LP lowered its position in JetBlue Airways Corporation (NASDAQ:JBLU - Free Report) by 91.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 50,834 shares of the transportation company's stock after selling 525,299 shares during the period. Corient Private Wealth LP's holdings in JetBlue Airways were worth $291,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. U S Global Investors Inc. boosted its holdings in shares of JetBlue Airways by 17.2% during the 1st quarter. U S Global Investors Inc. now owns 5,542,536 shares of the transportation company's stock worth $24,498,000 after purchasing an additional 813,782 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of JetBlue Airways in the second quarter valued at approximately $20,022,000. Primecap Management Co. CA purchased a new position in shares of JetBlue Airways in the second quarter valued at approximately $13,549,000. Bank of New York Mellon Corp acquired a new position in shares of JetBlue Airways in the second quarter valued at approximately $11,336,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of JetBlue Airways in the second quarter valued at approximately $10,748,000. Hedge funds and other institutional investors own 83.71% of the company's stock.

Analyst Ratings Changes

JBLU has been the topic of a number of research reports. Bank of America increased their target price on shares of JetBlue Airways from $3.50 to $4.00 and gave the stock an "underperform" rating in a report on Wednesday, July 1st. The Goldman Sachs Group lifted their price target on shares of JetBlue Airways from $3.50 to $4.50 and gave the stock a "sell" rating in a research note on Thursday, July 2nd. Citigroup cut shares of JetBlue Airways from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $6.60 to $5.30 in a report on Friday, August 7th. TD Cowen dropped their price objective on shares of JetBlue Airways from $6.00 to $5.00 and set a "hold" rating on the stock in a research report on Monday, August 24th. Finally, Susquehanna increased their target price on JetBlue Airways from $5.00 to $6.00 and gave the company a "neutral" rating in a report on Tuesday, July 7th. Seven research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $5.28.

Insider Buying and Selling

In other news, CFO Ursula Hurley sold 77,253 shares of the business's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $5.76, for a total value of $444,977.28. Following the transaction, the chief financial officer owned 211,099 shares of the company's stock, valued at approximately $1,215,930.24. The trade was a 26.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 83,253 shares of company stock worth $474,477. 2.41% of the stock is owned by corporate insiders.

JetBlue Airways Stock Performance

JBLU opened at $4.15 on Friday. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -1.74 and a beta of 1.77. JetBlue Airways Corporation has a 52 week low of $3.87 and a 52 week high of $6.62. The business's 50 day moving average is $4.98 and its two-hundred day moving average is $5.05. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 5.04.

JetBlue Airways (NASDAQ:JBLU - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The transportation company reported ($0.66) earnings per share for the quarter, beating analysts' consensus estimates of ($0.69) by $0.03. JetBlue Airways had a negative return on equity of 45.92% and a negative net margin of 9.32%.The company had revenue of $2.70 billion during the quarter, compared to analysts' expectations of $2.69 billion. During the same quarter in the previous year, the business earned ($0.21) earnings per share. The firm's revenue for the quarter was up 14.5% on a year-over-year basis. On average, research analysts predict that JetBlue Airways Corporation will post -2.42 EPS for the current year.

JetBlue Airways Profile

JetBlue Airways Corp. NASDAQ: JBLU is a passenger airline that provides scheduled air transportation in the United States, the Caribbean, Latin America and select destinations in Canada and Europe. The company serves leisure and business travelers through a network centered on major U.S. airports, including New York, Boston, Fort Lauderdale and Orlando.

JetBlue offers multiple travel products, including its core economy service and premium Mint cabins on select routes. Its onboard offerings have included complimentary snacks and beverages, seatback entertainment, Wi-Fi and additional-legroom seating options marketed as Even More Space.

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